SBI’s report ‘Ecowrap’ lowers India’s growth rate to 4.6% for FY 2020

The State Bank of India has released its research report ‘Ecowrap’. In the report ‘Ecowrap’, the economic research department of SBI has lowered India’s growth rate to 4.6% in the fiscal year 2020. The report also stated that agriculture and allied activities are expected to grow at 2.8%, while growth in industry projected to grow at 2.5% in fiscal year 2020. The service sector is also expected to increase to 6.9% in fiscal year 2020.

Important takeaways for all competitive exams:

  • Chairperson of SBI: Rajnish Kumar; Headquarters: Mumbai; Founded: 1 July 1955.

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